Paraguay: Main public investment up to July is related to the Bioceanic Corridor Route

The main component of Paraguay’s public investment, as of July 2022, was the Ministry of Public Works and Communications (MOPC), with execution of US$453.5 million, with the most outstanding being those projects linked to the Bioceanic Corridor Route.

In the period under analysis, Paraguayan public investment amounted to US$592.4 million, representing 1.4% of the Gross Domestic Product (GDP), according to the Financial Situation Report (Situfin).

Likewise, it was detailed that the level of strategic investment was maintained, aimed at economic recovery, in line with the fiscal convergence goal.

Next in importance among the most outstanding projects of the MOPC are the habilitation and maintenance of National Route No. 9; the improvement of the Export Corridor in Itapúa and Alto Paraná; and the Chaco’i Bridge.

In addition, Paraguayan authorities reported that, as of July 2022, the deficit was US$385 million, representing 0.9% of GDP. At the same time, the positive operating result was US$208.5 million, representing 0.5% of GDP.

The Situfin report shows that tax revenues registered a nominal variation of 19.1% and total revenues showed an increase of 10.2%. Expenditures showed an increase of 8.2%.

The growth projection for Paraguay remains at 0.2% for 2022, with improved estimates for the agriculture, electricity/water, and trade sectors, according to data from the Central Bank of Paraguay (BCP).

It is worth mentioning that the remaining figure of public investment is in the execution of works and projects of the Ministry of Public Health and Social Welfare (Mspybs) with US$30 million, in the Ministry of Education and Science (MEC) with US$20.6 million and in the Presidency of the Republic, which has executed US$29.3 million in the construction and improvement of sports venues and development of the XII South American Games Asuncion 2022.

With information from Xinhua